Businessweek Archives

As Tisch Turns...

January 15, 1995

In Business This Week: CLOSING BELL

AS TISCH TURNS...

Laurence Tisch is keeping observers guessing about his plans for CBS. Last August, the billionaire investor and CBS chairman reduced his stake in the Tiffany Network to 18% after the collapse of a merger with Barry Diller's QVC Network. Now, though, Tisch, who owns his shares through Loews, wants to boost his stake to 25%. Loews will buy CBS stock at an initial price of $65 per share. Analysts say Tisch's motive may still be to sell out--but at a higher price. If so, his gambit is working: CBS shares rose to 583/4 on Jan. 4.EDITED BY KEITH H. HAMMONDS